Today the New York Times published an interview with Don Peebles, who runs one of the largest African-American owned development firms in this country. The Peebles Corporation already has several New York projects in the works, including a large condo development in Tribeca. When asked what other plans his firm is making, Peebles responded, “There’s a series of properties that the city is going to be having a competition for and we’re going to bid on those as well. This is on the Lower East Side.” He did not offer any other details, but since it’s the only major city-owned site poised for redevelopment, speculation will immediately be focused on the Seward Park Mixed-Use Development Project. This month, developers submitted proposals for the 1.6 million square foot project. The city will choose the winning bid or bids by the fall. While some development firms have spoken in general terms about their proposals, the city has not disclosed any information about the companies competing for the big real estate prize.
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